Dr. Taiwo Afolabi, Chairman of SIFAX Group, has emphasized the need for stronger integration of economic investment into global conflict prevention efforts. Speaking at the United Nations General Assembly High-Level Global Executive Roundtable on Diplomacy, Multilateralism and Conflict Resolution in New York, Afolabi argued that infrastructure, employment, trade, and economic opportunities can help address structural conditions that make societies vulnerable to instability. He stressed that peace and prosperity are mutually reinforcing.
Afolabi noted that the world faces a combination of challenges, including geopolitical tensions, economic uncertainty, climate pressures, inequality, and declining trust in institutions. He called for a coordinated response built around diplomacy, multilateralism, conflict resolution, and sustainable economic development. According to Afolabi, the international community must move beyond responding to conflicts after they erupt and place greater emphasis on preventive diplomacy, sustainable development, and economic inclusion.
The relationship between peace and development is particularly important for Africa, where infrastructure deficits, financing constraints, trade barriers, and limited economic opportunities continue to affect the continent's development prospects. Afolabi emphasized that Africa's peace-building agenda must be accompanied by an investment agenda, requiring investment in transport infrastructure, ports, energy, technology, manufacturing, agriculture, healthcare, education, and human capital.
Afolabi also called for stronger regional value chains and improved connectivity across African economies. He stressed that the successful implementation of the African Continental Free Trade Area requires more than trade agreements, including infrastructure, efficient logistics, digital systems, financing, and political cooperation. According to him, trade and connectivity can create shared interests among nations.
The private sector plays a crucial role in creating economic connections that can strengthen cooperation between communities, businesses, and countries. Afolabi drew on SIFAX Group's experience across various sectors, including maritime, logistics, aviation, financial services, oil and gas, and hospitality. He emphasized that infrastructure and connectivity should be viewed not merely as commercial activities but as important components of economic development.
A functioning logistics system can connect farmers to markets, manufacturers to consumers, businesses to international value chains, and countries to one another. Afolabi added that these economic connections can generate shared interests and incentives for cooperation, making infrastructure an important component of a broader peacebuilding strategy. This approach can help address global instability by promoting economic inclusion and sustainable development.
Afolabi's statement was disclosed in a statement from SIFAX Group on Sunday. The article was reported by Arinze Nwafor, a journalist at Punch Newspapers with five years of experience reporting on Nigeria's economy, industry, data, metro, and judiciary.
Key points
- Dr. Taiwo Afolabi calls for economic inclusion to address global instability at UN General Assembly.
- Afolabi emphasizes the need for stronger regional value chains and improved connectivity across African economies.
- The private sector plays a crucial role in creating economic connections that can strengthen cooperation between communities, businesses, and countries.
